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ARTICLE · 17 AUGUST 2023

Progress On Implementation Of The Irish ELTIF 2.0 Offering

Walkers
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Today sees a significant and very welcome announcement by Irish Funds in relation to the Irish implementation of the ELTIF 2.0 framework.

IrelandFinance and Banking
Damien Barnaville
Damien Barnaville
Nicholas Blake-Knox
Nicholas Blake-Knox
Eimear Keane
Eimear Keane
Aongus McCarthy
Aongus McCarthy
Joe Mitchell
Joe Mitchell
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Today sees a significant and very welcome announcement by Irish Funds in relation to the Irish implementation of the ELTIF 2.0 framework.

Irish Funds has confirmed in a communication to member firms that following constructive engagement with the Central Bank of Ireland (the "Central Bank") on the implementation and application of an Irish ELTIF offering, the Central Bank is developing a standalone ELTIF chapter for inclusion in its AIF Rulebook and will consult on this shortly.

The revised European Long-Term Investment Funds Regulation (EU) 2023/606 (the "2023 Regulation") will apply across the European Union from 10 January 2024. The asset management industry in Ireland has been focused on maximising the opportunities presented by the enhancements to the ELTIF framework contained in the 2023 Regulation and to ensure that Ireland will have an ELTIF 2.0 offering from 10 January 2024 when the 2023 Regulation comes into effect.

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